Avolta reports strong H1 turnover growth of +11% with uninterrupted positive momentum into H2

Avolta AG / Key word(s): Half Year Results Avolta reports strong H1 turnover growth of +11% with uninterrupted positive momentum into H2 30-Jul-2024 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Supported by a strong global business model, Avolta reports for the sixth consecutive quarter a strong performance across all KPIs. In H1, the company delivers an impressive CORE turnover growth of +11.0%, organic growth of +7.1%, with EBITDA margin increasing by +40bps year-on-year to 9.0% and an EFCF of CHF 213.5 million. The strong H1 performance reinforces Avolta’s confidence for H2 and beyond as it delivers on its Destination 2027 strategy. 

H1 2024 HIGHLIGHTS:

• Avolta’s CORE turnover at CHF 6,342.6 million, increased +11.0% year-on-year (YoY).
   
• CORE organic growth rose +7.1% while reported turnover increased to CHF 6,462.7 million over the period. 
   
• CORE EBITDA increased to CHF 568.3 million, with a CORE EBITDA margin of  9.0%, +40bps YoY.
   
• EFCF grew by +29.3% YoY to CHF 213.5 million, reflecting tight cost control. 
   
• Leverage continues to materially decrease to 2.35x from 2.62x a year ago. 
   
• Looking ahead, Avolta is confident in the continued delivery and strong execution of its Destination 2027 strategy and the outlook as provided previously.
   

Xavier Rossinyol, CEO of Avolta, stated: “Today, in our sixth consecutive quarterly reporting as one group, we continue to deliver against our plan thanks to the strength of our proven, global business model, delivering strong financial performance across all key KPIs. 

Avolta’s half year tells the story of continued successful delivery of our Destination 2027 strategy. Across the board, our key performance indicators show a very positive development – from our reported CORE turnover growth of +11.0%, and organic growth rate of +7.1%, through to our CORE EBITDA margin of 9.0% and EFCF of CHF 213.5 million, +29.3% YoY, despite a more challenging base of comparison. Our focus on consistent cash-generative growth remains resolute. Market conditions continue to be favorable, and we see our strong performance continuing into H2 2024, reinforcing our confidence and positive outlook for 2024 and beyond.